NEW DIRECTIONAL CALL PLAYS
Fomento Economico Mex. - FMX - close: 36.85 chg: +0.82 stop: 34.99
Why We Like It:
Fomento Economico Mexicano, S.A.B. de C.V. is a major beverage company throughout Latin America. The stock looks like a bullish candidate with shares rising on strong volume in the last couple of sessions. Shares are now poised to breakout from an eight-week consolidation and its trendline of lower highs. I'm suggesting a trigger to buy calls at $37.50. If triggered our first target is $40.00. Our second target is $42.50. The Point & Figure chart is much more bullish with a $66 target.
I am suggesting the November calls although Januarys have more open interest. My preference is the November 40 strike (FMX-KH).
BUY CALL NOV 40.00 FMX-KH open interest=206 current ask $1.00
Picked on September xx at $ xx.xx <-- TRIGGER @ 37.55
Change since picked: + 0.00
Earnings Date 10/26/09 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on September 24, 2009